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Looming IPO restart weighs on China stocks
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  • http://english.dbw.cn   2014-04-22 09:50:42
     

    Chinese shares closed lower on Monday as investors fear the restart of the initial public offering (IPO) process would put pressure on market liquidity.

    The benchmark Shanghai Composite Index went down 1.51 percent to finish at 2,065.83, and the Shenzhen Component Index lost 1.37 percent to 7,353.6.

    China's securities regulator unveiled a list of companies applying for listing on Saturday, signaling a restart of the IPO review that has been suspended for over a year.

    A total of 28 companies appeared on the list, 16 for the main board of the Shanghai Stock Exchange, four for the small and medium-sized enterprises board in Shenzhen and eight for the ChiNext Board, data from China Securities Regulatory Commission showed.

    The move, the first preliminary information disclosure from the pre-listed companies since October 2012, indicated the authorities are likely to resume IPOs soon, sending shares down across the board over concerns of market liquidity.

    Public transport led the losses on Monday. Shanghai Shentong Metro Co. went down 4.2 percent to end at 7.3 yuan (1.19 U.S. dollars), while Dazhong Transportation Co. shed 3.71 percent to 6.49 yuan.

    Author:    Source: xinhua     Editor: Yang Fan

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